Topic: If Bitcoin been backed by Dollar then what will happen if the Dollar collapsed? - page 3. (Read 485 times)

To play with your fantasy, I would say that bitcoin would probably collapse too given how it's backed by something worthless, it will essentially become worthless. Also, you should probably deal with how you do your threads, make your content match the title, what part of the title is your content connected? How exactly is it connected? Also, do you have a proof in regards to your speculation that Satoshi just made bitcoin for the rich folks down there in the west? It seems that it's a really stupid and nonsensical thing for you to say because how exactly does your theory work, it's speculation that doesn't have anything in it, no explanation.

There are some assumption in which we cannot expect to see turn a possibility, one of it is from the analogy that bitcoin be backed by a fiat currency, that is not possible, then i also never think of it one day that USD will collapse, because i don't see a reason for that, even if bitcoin turned to be a mainstream payment medium in the future and we have achieved global harmonization, USD may still be relevant and we may only have the two medium serving as alternatives to making payments.

Bitcoin isn't real, it's e-real.  

Do you think the paper, polymer fiat currency you have in your hands are real and actually have value?
Do you think the figure in your bank account digitally is real and actually has value?

Basically fiat currency in either forms, physically or digitally, can has no value at all or we can say it has less value than what we see. Because it was created from the air and no back behind or the backed assets have less value than value of fiat currency printed by governments.

Is it enough to change your mind?

Literally speaking, Bitcoin or cryptocurrency is not backed by nothing at all.  It is backed by the demand of people.  Cryptocurrency is a free market where every individual has the right to process a buy order which is called demand.

If Bitcoin or other cryptocurrency is backed by nothing at all then you can see its market price plummet to oblivion.  It is not only backed by dollar but also backed by other currency due to the variety of market demands.  Many people buy Bitcoin through different fiat and cryptocurrencies and it is obvious by the Bitcoin trading pairs.

To answer your title, if dollar collapsed, Bitcoin price value in relation to dollar will soar.  The lower the value of the trading currency pair is, the higher the price of bitcoin in that currency.

This is what my elementary school teacher would call beautiful nonsense.

When I saw the title of the thread I was eager to go through the content to see what you wrote down there because the topic intrigued me, only to find out you're talking about a totally different thing.

How is Bitcoin created for the rich? For as long as I know, at the time Satoshi was in the equation of Bitcoin, any poor person could afford a whole Bitcoin and not what's not impossible for the average person. Do we even know if he had some Bitcoin himself?

Someone should help give me an answer to this. I want to also know this.

I guess if you were in bitcointalk at that time you probably may have find a way because I still believe there maybe others in your country that still acquired more

Not all cryptocurrencies is backed by fiat to be frank, those who are backed by it are like the USDT and likes.
We usually compare their prices using these fiat because that's what we locally use in our various countries

Actually this is a fallacy, you have misconception in this, it's not about being a genius here, let me bring something to your mind.

The fiat currency are still generated through maths are all of  those using it  genius or were everyone who had or invested in gold genius ?

Infact many more individuals who invested in bitcoin are not genius or  have much understanding about the maths in Blockchain, there are basic books, articles or individuals that just speak about the truth about bitcoin and these folks just saw a reason of investing in bitcoin and now they became who they are now.

Don't also forget many knew the maths but sold earlier while many who don't know anything about the maths is still HODLing notably those in WO thread

The goal was clearly stated in the whitepaper as a peer to peer electronic cash system, Satoshi goal in creating bitcoin was not to make people rich rather through its decentralisation freedom, privacy and every other benefits that follows having bitcoin came.

Looking at your replies, it seems like you are pretty obstinate. So, if I agree that you are "right" in your prior argument, what would you do? Because in my mind, there are only two possibilities.
1. Stop all Bitcoin-related activities and never go back on them.
2. Increase your IQ to compete with the folks you're referring to.

I respect the man
but my theory is that Bitcoin isn't a form of currency and it's not the future currency
and yes, if it wasn't for Bitcoin the Deep web market wouldn't be open (Now a days XMR toke the throne since Bitcoin decentralisation isn't hard to crack no more)

the Idea is Satoshi end game, this man (and as I said he is probably a A group of geniuses, not one man) to create an Ideal world for smart people and I am curious about the next move (and what will happen if the Dollar collapse)

if it's decentralize then you can't say that to me bro.
acutely this is why I joined in 2016 because I never ever could've use any form of money beside paper before, Crypto was my Cope even though I didn't fully believed in it back then.
I am not disparaging Satoshi I respect him but this is my personal opinion pro.

You are not against this idea, but you are against Satoshi Nakamoto, how does your logic work buddy? you think you are not a newbie because you have been collecting bitcoins since 2016, is that a strong reason?

That's the same as saying i bought a cat or dog since 2016 and i know about them completely, no buddy, no!. Those who understand best about these animals are experts on these animals.

The deep web was discovered by Michael K. Bergman in 2001 ^[1], while Satoshi created & discovered bitcoin in 2009 ^[2]. Read more so you can find out more deeply about things, buddy.

[1] https://en.wikipedia.org/wiki/Deep_web
[2] https://en.wikipedia.org/wiki/Satoshi_Nakamoto

read it again
my post says that Satoshi want to create an Ideal world where smart people like him will never be poor or have any worry about the money.
that the just of it
you didn't answer my question

I have been hearing this word that one day dollar will collapse. I haven't seen any sign that it will collapse on the contrary those tried destroying the dollar have either collapsed or died.

If you don't have knowledge about Bitcoin then you should first work on having little knowledge about it. Find out first the reason for the creation of Bitcoin then you will understand that if anyday dollar collapsed it won't affect Bitcoin.

Satoshi did not create bitcoin for the purpose of making us rich. No one even knows the economic situation of Satoshi as far as I know. We don’t know if he’s a millionaire or just in middle class. One thing for sure though is that he made bitcoin as an alternative to other currencies.

What kind of theory is this lol. We don’t know where Satoshi is from even if his name is Japanese we don’t know if he was one actually. To say that bitcoin is solely for people in the west is kind of selfish and self-centered I’m not going to lie. Bitcoin is for everyone.

It would be better for you and your brain if you do some research twice a day instead of thinking about things that don't make much sense.

Satoshi didn't create Bitcoin to make anyone rich, and you should know this if you have some sense of understanding that Bitcoin didn't have the same value when it was created nor did it have this many people interested in it. There were only a few people including the developers and testers who started using Bitcoin initially, and then it started gaining attention because of how it was designed.

Those who became rich because of Bitcoin deserved it because they believed in the technology and adopted it when it didn't have any value at all unlike most of us who are into it after seeing how it can provide good profit.

I am not against this Idea at all my friend.

And I believe that is a good Idea and BTW I am not a newbie at all I start to collect Bitcoins since 2016 and the only reason that I am still poor is the fact that I lived in a country where it's illegal for me to have a credit card (thus it was impossible to buy it, I only get it from faucets and got a few Thousands out of it)

The reality tho is the fact that this coin and Crypto in general is backed by nothing but Fiat and this is why I always want to sell my BTC before it's to late (it been stolen but that beside the point)

imagine an ideal world where the smartest 1% get free money from the normal 99%?
A world where a geniuses don't have to worry about money?
I mean the only people who genuinely thought of it success where the ones smart enough to look at the math equations and the block chain technology.

I also think that Satoshi did it so no country will ever be under sanctions or blockade and If it wasn't for Bitcoin we wouldn't have the deep web now.
Rember that Satoshi still own 1 miloin BTC, he is a multiy bloiier hell he is one of the richest pepole on earth but why he didn't sell it yet? Because moeny dosnt mattre for smart pepole, only avagre pepole see moeny as a goal in life the smart one see it as a tool to get by and that's it.
And I'm 99% certin that Satoshi is a group of pepole not a singler person, this group want pepole to have a fiancinal security yes, but they have a bigger goals, Much bigger theana being rich.
I can't say that they are good or evil but they are bettre than what we have today and what ever is the project they have in mind it's a huge one that need more than 100 biloon Dollar to work
Excuses my english, not my first langauge.

I doubt you even belong to the crypto world and have any information about Bitcoin and how it works, all I can see is a noob trying to blame Satoshi Nakamoto for something he didn't do, Bitcoin is a decentralised P2P transfer medium and had there been any such intentions as you have mentioned then Bitcoin wouldn't have been decentralised. I would suggest you to read Bitcoin's white paper once.

Your actual post had nothing to do with your title, and your post was just a bunch of made up nonsense about Satoshi. A mod should delete this thread.

OP, I don't know where this post is heading to by your "Rich" statement. Have you read the Bitcoin white paper?. The title clearly states: "Bitcoin: A Peer-to-Peer Electronic Cash System". Satoshi pointed out so many things on the published white paper which getting Rich was never part of it. Please don't misquote him.


Every programmer especially those who are into C/C++/python,etc needs to flexible with maths. So .


Making money is also part of Bitcoin, but does not necessarily mean you must be good in maths like Satoshi and other programmers. Your strategies(plans) and what you have(funds) for investment is clearly what makes you rich.

You might have skipped this thread after your registration:
https://bitcointalksearch.org/topic/newbies-read-before-posting-1689727

Satoshi Nakamoto did not create bitcoin to enrich himself or a certain group, before getting to know bitcoin more deeply i also had the same thoughts as you, but as i was on this forum, i got a lot of insight and true reality from Satoshi Nakamoto. It's clear that Satoshi Nakamoto wanted to change people's views on finance & freedom, he wanted to free people from the restraints of third parties such as banks & overly regulatory governments.

You are a newbie & that is why you have the views you believe now. GazetaBitcoin threads ^[1] might be suitable for you and i'm sure you will change your mind after reading them.

[1] https://bitcointalksearch.org/topic/help-me-translate-my-best-posts-in-your-local-board-5379715

I genuinely  think about this question twice a week.

Satoshi Nakamoto (Who ever he really is) simply made Bitcoin to give a chance to geniuses like him to be rich
remember that Satoshi was a math genius, he solved equations thought  to be impossible it the time being.

he made it so only smart people who live in the west can be millionaires in the future and he did it I mean look at the richest people who made there fortune form Bitcoin and other Crypto currencies, all of them have 130 IQ at the least and all of them sold most of it.
Bitcoin isn't real, the money that those people got is.
change my mind!